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Initially, at least, the firm is staking out a niche in the secondary, rather than primary U.S. market. David Puritz, hired in March as U.S. head of convertible bonds, did just that in his former post at Deutsche Bank.

Moody's on Tuesday affirmed the long-term and short-term ratings of Bank of America, Citigroup, and Wells Fargo. At the same time, the rating agency changed its outlook on the banks to negative from stable.

If the administration was looking to the more than 300 public comments for guidance in crafting a future for Fannie Mae and Freddie Mac, it better have a Plan B.

Buoyed by the strength of the long-term municipal market over the past 18 months, mutual fund assets have climbed to record levels, and portfolio managers have had little need to make major changes to their current investment strategies.

CHICAGO — CIFG Assurance North America Inc. on Monday sued Assured Guaranty Corp., charging it with breach of contract violations for reneging on its obligation to cover the policy on $83.3 million of Xenia Iowa Rural Water District bonds as part of its 19-month-old reinsurance agreement.

Evercore Partners announced today that it has begun to roll out a new equities research group that will focus on telecommunications, media and technology and financial industries.

JP Morgan Chase taps former wirehouse leader to refocus its branch-based brokers on clients’ untapped wealth.

Bank of America Corp. announced Tuesday it hired Lisa Shalett as chief investment officer of Merrill Lynch Global Wealth Management and head of investment management and guidance.

As Federal Express first indicated last November, it announced Monday that it will restore 401(k) matches. But the wait is still a long way off: The matches don’t start until Jan. 1, 2011.

The Securities and Exchange Commission on Tuesday asked the financial services industry to comment over the next 30 days on whether there should be different sets of rules for broker-dealers and investment advisors vis-à-vis personalized investment advice to retail investors.

The U.S Trust wealth management division of Bank of America Corp. continues pursuing its expansion plans nationally by adding six executives to its Northeast region.

Younger investors heed financial advisors and information gleaned online

A widespread expansion effort is underway at U.S Trust to boost its ultra high net worth business.

Despite outflows from its U.S. wealth management unit, UBS AG reported stronger second quarter results Tuesday as outflows from its private bank continued to slow.

Investors being duped into pouring tens of millions of dollars into fake high-yield opportunities being touted all over the social mediascape.

The Municipal Securities Rulemaking Board is wrestling with how much it needs to increase its staff, technological capability, and funds to implement provisions of the new financial regulatory reform law that require it to make the most expansive changes since its creation in 1975.

In the newly created position, Fay, previously head of value equities, will be responsible for overseeing the functions of the growth and value investment services teams.

Evercore Partners announced today that it has begun to roll out a new equities research group that will focus on telecommunications, media and technology and financial industries.

International banking regulators said Monday they reached broad agreement on the overarching principles that will shape capital requirements and liquidity rules for banks in the coming years.

The legislation by Rep. Scott Garrett, R-N.J., would establish a regulatory framework for covered bonds, including a regime to handle the failure of a bond issuer.